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Impact of Various Factors Constituting Women’s Awareness of Estate Planning Among Women: An Empirical Study

  • Unique Paper ID: 167943
  • Volume: 11
  • Issue: 4
  • PageNo: 947-952
  • Abstract:
  • Estate planning involves strategic organization, management and distribution of assets and wealth after death or in case of incapacity. It involves creation of legal documents like wills, trusts, powers of attorney, and advance directives. The main goal is to guarantee that an individual's desires regarding their property, finances, and healthcare choices are respected as per their wishes. Getting engaged in estate planning is important for people of all ages and income levels, particularly women, as it provides protection for themselves and their families during difficult circumstances. Seeking guidance from legal and financial experts can help prepare a complete estate plan personalized to specific needs and objectives. Estate planning involves making advanced decisions about asset distribution to next of kin, designated individuals, or charitable organizations. It is important for everyone, regardless of gender. However, working women often face some unique challenges in management of their finances. Estate planning includes identifying and setting financial goals, determining the necessary funds for achievement of such goals, and developing an investment plan to meet them. These decisions can be made independently or with input from trusted advisors. Sample of 223 women respondents were surveyed to know their view on the impact of various factors constituting women’s awareness of estate planning. The study concludes that there is significant impact of Higher levels of education Profession and income, Involvement in financial decisions, Age and life stage, Access to financial advisors, Online tools and platforms, Tax benefits and Peer influence on women awareness regarding estate planning.
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Cite This Article

  • ISSN: 2349-6002
  • Volume: 11
  • Issue: 4
  • PageNo: 947-952

Impact of Various Factors Constituting Women’s Awareness of Estate Planning Among Women: An Empirical Study

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Impact Factor
8.01 (Year 2024)
UGC Approved
Journal no 47859

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